Showing papers in "International Journal of Social Economics in 1988"
TL;DR: In this paper, the authors focus on the role and influence of the implementation process which acts as an intermediary between the paper policy instruments and the actual policy measures, and the complexity of the matter is reduced without affecting either the number or the diversity of circumstances that can be discussed simultaneously.
Abstract: Scientific theories on the effects of various policy instruments are often formulated without accounting for the circumstances under which these instruments are applied. Also the implementation process is often neglected. Economic theory formulation often concentrates solely on the influence of the instrument‐as‐intended on the cost‐benefit relationship of various behavioural alternatives. Theories based on the joint influence of possible combinations of circumstances rather than the isolated influences of individual circumstances tend to become tremendously complex. Consequently, attempts to formulate such theories are few. Nevertheless, precisely that combined perspective offers invaluable insights when it comes to making choices concerning practical policy issues. This holds true regardless of whether the choice is part of a,more or less rational and conscious decision‐making process or, alternatively, involves a more personal and intuitive decision which is later to be tabled as the subject of political or administrative debate. This article deals with some fundamentals which provided the groundwork for formulating a scientific theory on the effects of policy instruments by the authors. The complexity of the matter will be reduced without affecting either the number or the diversity of circumstances that can be discussed simultaneously. In addition, attention will be focused on the role and influence of the implementation process which acts as an intermediary between the “paper” policy instruments and the actual policy measures.
95 citations
TL;DR: In this paper, empirical data of the IIUG project “Environment and the National Accounts” are used to evaluate the performance of the national accounts system, and the results of the analysis are presented.
Abstract: This paper is based on empirical data of the IIUG project “Environment and the National Accounts”. A more extensive and detailed report on this project was recently published by Andreas Ryll and Sabine Wadewitz: “Zur Volkswirtschaftlichen Gesamtrechnung des monetaren Umweltschutzes 1975–1985”, IIUG rep 87–8, 178 pp.
29 citations
TL;DR: In this article, the authors present a guide to the thought of Nicholas Georgescu-Roegen; a guide which may be understood by a wide intellectual audience, including a brief biography and a comprehensive bibliography of works by and about the writer.
Abstract: The purpose of this volume is to offer a guide to the thought of Nicholas Georgescu‐Roegen; a guide which may be understood by a wide intellectual audience. Dragan and Demetrescu have succeeded admirably in their task. They have given us a much‐needed overview of Georgescu‐Roegen's life's work, including a brief biography and a comprehensive bibliography of works by and about Georgescu‐Roegen.
26 citations
TL;DR: A survey of the economic research in the area of innovation and pollution control can be found in this article, where the main research themes are pointed out and suggestions made about possible subjects for fruitful future research.
Abstract: Environmental resources and human knowledge are the ultimate foundations on which human welfare is based. The impact of technical knowledge is well researched. Denison, for example, attributes no less than 47 per cent of the growth of real GNP in the USA over the period 1948–81 to technical change. The importance of the environmental resource base has been brought to the foreground by studies like Limits to Growth. Nowadays environmental policies are applied in most industrialised countries just to prevent further deterioration of the environment. In these countries it is not the physical environmental constraint that is felt, but perhaps the drag on economic growth exercised by the costs of environmental regulation. Whatever the nature of the environmental limit to economic growth may be, physical or juridical, it can be overcome by the use and extension of knowledge in order to reduce the amount of pollution and the costs of pollution control. Technical advance or innovation in pollution control is and will remain a very important factor affecting the success of the efforts that are made to improve environmental quality and to maintain growth of output. In this article we shall give a survey of the economic research in the area of innovation and pollution control. The main research themes will be indicated, “blank spots” pointed out and suggestions made about possible subjects for fruitful future research. In section I a short introduction is given to the general economic approach to technical change and innovation. In section II the existing economic literature on pollution control and innovation is reviewed. It will be argued that some of the most relevant research themes have not been taken up. These issues will be discussed in sections III and IV. Section V contains conclusions and recommendations for future research.
26 citations
TL;DR: In the post-war years of fast economic growth extensive government regulations to curb growing environmental problems were developed in most Western countries as mentioned in this paper, and this regulative activity was directed primarily at larger fixed industrial installations with locally identifiable environmental effects.
Abstract: In the post‐war years of fast economic growth extensive government regulations to curb growing environmental problems were developed in most Western countries. This regulative activity was directed primarily at larger fixed industrial installations with locally identifiable environmental effects. Since then, however, smaller and mobile sources, which are more difficult to regulate effectively, have increased their share in pollution. Now the scale of environmental problems has also changed from being mainly a local one to being a regional, a national, an international and even a global one. Examples of this are the diffusion of durable toxic substances, eutrophication, acid rain, depletion of the higher ozone layers, and the rising temperature of the atmosphere. Moreover, perceived social costs of environmental policy and other types of regulation have risen, inspiring a worldwide movement towards deregulation and privatisation. So there is ample reason to reconsider the instruments of environmental policy used so far and to look for ways to amend environmental effectiveness and social costs. In section I some of the directions which the search for improved instruments might take are identified and in the subsequent sections certain financial, social and product‐oriented instruments are analysed in more detail.
24 citations
TL;DR: The issue of a balanced development of our earth has been an intriguing research and policy question for several decades as mentioned in this paper, and the environmental problems emerging in the 1960s and 1970s have made us aware of antagonistic forces in the evolution of our socioeconomic and environmental system.
Abstract: The issue of a balanced development of our earth has been an intriguing research and policy question for several decades. The environmental problems emerging in the 1960s and 1970s have made us aware of antagonistic forces in the evolution of our socio‐economic and environmental system. The dramatic changes — demographic, economic, social and technological — in the post‐war period were not only purely quantitative in nature, but meant also a qualitative change in the structure of this system.
14 citations
TL;DR: According to the late Maxime Rodinson, there exists a basic affinity between the economic scheme of Islam and the capitalist system as discussed by the authors, and Islam, like capitalism, permits private ownership of property including the means of production and grants freedom of enterprise.
Abstract: According to the late Maxime Rodinson, there exists a basic affinity between the economic scheme of Islam and the capitalist system. Although most Muslims, including pro‐capitalist ones, like to think of Islam as a unique way of life and one distinguished from both capitalism and socialism, there exist various Muslims who, like Rodinson, find important similarities between Islam and capitalism. One such similarity concerns private ownership of property and the means of production. According to Zubair Hassan of India, “Islam, like capitalism, permits private ownership of property including the means of production and grants freedom of enterprise”.
13 citations
TL;DR: The processes of production and consumption as developed by man affect the availability of natural resources for subsequent processes of produce and consumption as mentioned in this paper, taking the form of pollution of air, water and soil, the presence of noise, monocultures, erosion and asphalted zones, as well as the exhaustion of supplies of fossil fuels and minerals in the earth's crust.
Abstract: The processes of production and consumption as developed by man affect the availability of natural resources for the subsequent processes of production and consumption. The effect takes the form of pollution of air, water and soil, the presence of noise, monocultures, erosion and “asphalted zones”, as well as the exhaustion of supplies of fossil fuels and minerals in the earth's crust. However, for production and consumption, man needs natural resources of reasonably good quality. Reasonably fresh air, reasonably clean water, well‐functioning soil, a certain degree of quietness, a variety of landscapes and the availability of a certain number of fossil fuels and minerals are all indispensable for human life, now and in the future.
8 citations
TL;DR: The fate of a country like the Soviet Union concerns not only its leaders and its population, but also the directions which that nation follows will affect the whole world as mentioned in this paper, and therefore, an understanding of the Soviet regime, its limitations and potentials, and the options available to that country, would give the rest of the world the intellectual weapon necessary to meet challenges presented by Soviet development.
Abstract: The fate of a country like the Soviet Union concerns not only its leaders and its population. Whatever happens to the Soviet system, the directions which that nation follows will affect the whole world. Therefore, an understanding of the Soviet regime, its limitations and potentials, and the options available to that country, would give the rest of the world the intellectual weapon necessary to meet challenges presented by Soviet development. The stakes may be very high; if the full productive capacity of the Soviet Union were developed, the Japanese economic miracle and the serious problems it has created for the United States might fade into relative insignificance.
7 citations
TL;DR: In this article, Boddewyn presented data from 16 countries which suggest strongly that advertising bans have not had the effects expected by those advocating their introduction, and concluded that advertising ban did not have a significant effect in reducing total demand for cigarettes.
Abstract: The issue of a partial or total ban on the advertising of cigarettes and/or tobacco products has been the focus of substantial public policy debate for a number of years in several countries. As far back as the early 1970s, Hamilton carefully examined the effects of the ban on electronic media cigarette advertising imposed in 1971 in the United States and concluded that the advertising ban did not have a significant effect in reducing total demand for cigarettes. Bishop and Yoo, using a more complex econometric specification, also reached essentially the same conclusion. Hamilton also examined the demand for cigarettes in eleven countries and concluded that advertising bans had little effect on cigarette demand. Finally, Boddewyn presents data from 16 countries which suggest strongly that advertising bans have not had the effects expected by those advocating their introduction.
7 citations
TL;DR: The second part of this special issue is devoted to the analysis of commodity production relations in the former Soviet Union as discussed by the authors, where the authors contribute to a better understanding of the nature of Soviet society.
Abstract: The purpose of this second part of this special issue is to contribute to a better understanding of the nature of Soviet society. It is not possible to analyse such a society in all its complexities within the space of one study. There are, however, some economic relations which determine society's major features. We believe that commodity‐production relations in the Soviet Union are of this type.
TL;DR: The Eastern and Western worlds are diametrically opposed to each other not only politically and militarily but also economically and socially as mentioned in this paper, and each system claims to be superior to the other.
Abstract: The Eastern and Western worlds are diametrically opposed to each other not only politically and militarily but also economically and socially. In the socialist lands the communist one‐party system is dominant; in the West it is political pluralism, in Comecon the planned economy prevails, and in the Common Market and the USA it is the market economy, of course, although not in the form it took in the nineteenth century. From a social point of view the Eastern bloc guarantees full employment at a lower standard of living, in the market economy the higher standard of living is accompanied by structural, cyclical unemployment. Each system claims to be superior to the other.
TL;DR: Del Vecchio as discussed by the authors argued that the unity of our spirit makes it impossible to work toward a certain end without thinking that this end can and must be achieved, even if only in the distant future and through the work of later generations.
Abstract: The unity of our spirit makes it impossible to work toward a certain end without thinking that this end can and must be achieved, even if only in the distant future and through the work of later generations… Objective examination in the ups and downs in the history of law cannot and must not extinguish our faith in justice as a supreme human ideal. Even in the face of events which represent a setback or a deviation, that ideal remains unshaken as a criterion of value; without it, deviation would be meaningless. Even if contradicted by empirical facts, this ideal does not lose its ethical and deontological truth. These contradictions between “is” and “ought to be” can be neither permanent nor general. Giorgio del Vecchio, Man and Nature
TL;DR: The year 1988 marks a special anniversary for Russia. Exactly 1,000 years ago, Christianity was officially introduced into Russia from Byzantium as mentioned in this paper, which was accomplished when, in 988, Prince Vladimir of Kiev ordered a mass baptism of the Russian people.
Abstract: The year 1988 marks a special anniversary for Russia. Exactly 1,000 years ago Christianity was officially introduced into Russia from Byzantium. This was accomplished when, in 988, Prince Vladimir of Kiev ordered a mass baptism of the Russian people
TL;DR: In this paper, it was shown that our Solidarism did have its birth there with the publication of the closely associated works of Charles de Coux (1832) and Alban de Villeneuve-Bargemont (1834/37).
Abstract: In previous efforts I have dated the birth of (modern) Social Catholicism (alias: Roman‐Catholic Social Economycs) with the publication of the closely associated works of Charles de Coux (1832) and Alban de Villeneuve‐Bargemont (1834/37). If indeed (and without going all the way back to Jesus of Nazareth, via Thomas Aquinas, Jerome and Ambrose et al.) that be the case, and the implication of the present assignment be correct, then we should have to date the “birth of solidarism” in the Social‐Catholic vein identically. Undaunted by Gide's virtual declaration that “they were all solidarists then”, this is what we set out to show, viz. that our Solidarism did have its birth therewith.
TL;DR: Singapore's gross national product per capita was $5,240 in 1980 and reached $7,420 in 1985 as mentioned in this paper, the highest GNP per capita in the world.
Abstract: In 1969, the annual per capita income of Singapore was $650. By 1981, Singapore's gross national product per capita was $5,240. Such productivity placed this small developing state among the very wealthiest non‐OPEC developing countries of the world, with an unequalled 1960–82 average annual growth rate of 7.4 per cent. During the decade to 1982, real per capita GNP grew by an average of 9.2 per cent each year. In 1982, gross domestic product amounted to $14 billion. In 1983, Singaporean real GNP grew by 7.2 per cent, a performance matched only by Hong Kong and Taiwan. Unemployment was held to a level of 2.3 per cent and inflation to an even more modest 1.1 per cent. Singapore also achieved the highest national savings rate in the world, at 42 per cent of GDP. These trends produced a 1985 GNP per capita of $7,420, larger than those of Italy, Ireland, Spain, Greece, Portugal and New Zealand; and not much less than those of either Belgium or Britain (World Bank, 1987, p. 203). If the nation's GDP contracted by 1.9 per cent in 1985, it resumed expansion thereafter, at an inflation‐adjusted rate of 1.8 per cent in 1986, and 8.6 per cent in 1987 (Wall Street Journal, 1988, p. 12).
TL;DR: In this article, the authors argue that George's basic approach to economic thinking is very timely in the light of some pressing problems currently experienced by Western industrialised nations, and suggest how a Georgian approach to industrial siting might result in a more economical use of natural resources, rendering efforts such as Superfund superfluous in the future.
Abstract: In this essay we set out to show that Henry George's basic approach to economic thinking is very timely in the light of some pressing problems currently experienced by Western industrialised nations. The paper essentially makes two contributions. The first three sections are designed to show what Henry George's contribution consisted of and how it stands up in the light of contemporary economic thinking. Ultimately, our claim of Henry George's timeliness can only be tested by attempting to show what it can accomplish in trying to deal with a contemporary problem. We take the current clean‐up efforts in the context of the American Superfund programme as our point of departure and suggest how a Georgian approach to industrial siting might result in a more economical use of natural resources, rendering efforts such as the Superfund superfluous in the future. Obviously, before implementing a Georgian system, a phase of transition would be necessary, depending on the different institutional circumstances, and designed to clean up past and present pollution.
TL;DR: Turnover taxes in the former Soviet republics have been studied extensively as mentioned in this paper, and four major views on the subject have emerged: turnover taxes are simply a sales (excise) tax on articles' of consumption sold to the Soviet consumer; some of them are a substitute for rent on production of certain industrial materials; and there exists a third type of turnover tax which is levied on agricultural production of the peasantry.
Abstract: Studies concerning Soviet taxation demonstrate a diversity of opinions on the nature of turnover taxes. Four major views on the subject have emerged: (1) turnover taxes are simply a sales (excise) tax on articles' of consumption sold to the Soviet consumer; (2) not all turnover taxes are a sales tax, some of them are a substitute for rent on production of certain industrial materials; (3) in addition to being a sales (excise) tax on consumer goods and rent on some industrial materials, there exists a third type of turnover tax which is levied on agricultural production of the peasantry; (4) turnover taxes are a portion of the surplus product produced in industry and agriculture.
TL;DR: For over 2,000 years Confucian philosophy dominated Chinese social thought, thus leaving an enormous body of Confucians literature addressing social problems as mentioned in this paper. Yet very little of that which is Confucious social thought appears to possess economic content.
Abstract: For over 2,000 years Confucian philosophy dominated Chinese social thought, thus leaving an enormous body of Confucian literature addressing social problems. Yet very little of that which is Confucian social thought appears to possess economic content. Joseph J. Spengler concluded that “the Confucian school did not emphasize economic questions. Confucius's real concern was with social organization, together with ethics, politics, and societal harmony…”. Not unexpectedly, therefore, there is very little secondary literature which attempts to capture the essence of Confucian economics.
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TL;DR: In this article, the twin concepts of altruism and fairness are used to illustrate from a children's story one question, the answer to which is fundamental in resolving some issues in the literature.
Abstract: This article is occasioned by the emerging literature on economics and ethics, and seeks to illustrate from a children's story one question, the answer to which is fundamental in resolving some issues in the literature. Central to our thesis are the twin concepts of altruism and fairness.
TL;DR: In this paper, the authors consider a stock of capital, which consists of non-renewable resources and renewable resources, and show that the change in the stock is the result of depletion of nature by production and of natural renewal.
Abstract: Until recently, general economic theory has hardly paid any attention to the production factor “nature”. Human economy has been characterised as a closed system, in which all kinds of products are produced through the input of the production factors “labour” and “capital” and then consumed. This appears to be no longer valid. Human economy interferes with the environment and is therefore an open system. Nowadays the consequences of this are thoroughly investigated in environmental economics, a borderland between economics on the one hand and ecology on the other. The purpose of this article is to contribute to this line of thought. The production factor “nature” can be seen as a stock of capital, one part of which consists of non‐renewable resources and the other of renewable resources. This latter has a limited renewal capacity. Both kinds of resources are exhaustible. Human production reduces total stock, so that the change in it is the result of depletion of nature by production and of natural renewal....
TL;DR: In this subject, many disciplines of modern scholarship converge, each beginning with a consideration of some aspect of existent society, and then, to a greater or lesser degree, looking back into the origins of the institution in question as mentioned in this paper.
Abstract: I. The Background: Theories of Property The institution of property is one of the oldest in human experience. Because of the many approaches to the study of the origins of society and the functions of its various structures, the idea of property has been investigated from numerous points of view. In this subject, many disciplines of modern scholarship converge, each beginning with a consideration of some aspect of existent society, and then, to a greater or lesser degree, looking back into the origins of the institution in question.
TL;DR: More than at any other time in history, mankind faces a crossroads, one path leads to despair and utter hopelessness, the other, to total extinction as mentioned in this paper. Let us pray we have the wisdom to choose correctly.
Abstract: More than at any other time in history, mankind faces a crossroads, One path leads to despair and utter hopelessness. The other, to total extinction. Let us pray we have the wisdom to choose correctly.
TL;DR: The use of natural resources and the policy environment surrounding this use are informed by concepts derived from economic theory, extant technology, past uses, common law, statutory regulations, and descriptive ethics influenced by past and present social mores.
Abstract: The use of natural resources and the policy environment surrounding this use are informed by concepts derived from economic theory, extant technology, past uses, common law, statutory regulations, and descriptive ethics influenced by past and present social mores. As such, the uses of natural resources tend to reflect where society has been rather than where it is going. This is especially the case if we consider that existing laws and regulations controlling the allocation and utilisation of natural resources such as land, air, surface water, and groundwater are largely based on utilitarianism reflecting a worldview dating back to Greek antiquity. Given that utilitarianism and a worldview in which nature is perceived as immutable have become part of our legal foundation, technological changes now present ethical and economic problems that threaten part of this foundation. Within a market economy such as that of the United States, the legal environment regulating decisions regarding the use of natural resources contains contradictions that adversely affect the efficiency of allocative decision making. On the one hand, users of resources are urged to find the highest and best use of the resources and are supported by case law and legal precedent, while on the other, statutes based on alternative ethics increasingly prohibit certain uses of natural resources. Additionally, recent legislation, for example, the 1985 Food Security Act, is changing entitlement rules. Concurrently, legal doctrines such as public trust are challenging assumed private property rights. In this article I describe some of these ethical and economic problems while relating them to existing and emerging natural resources law and litigation. While doing so, I review the critical works of Jonas and Rawls. As opposed to utilitarians justifying their actions based on the intrinsic goodness or badness of the end(s) resulting from the action, Jonas and Rawls are ethical formalists seeking rules of right conduct that everyone performs as a matter of principle; see Taylor. In addition, I review the Public Trust Doctrine, and the manipulation of entitlement rules, as “tools” being used to address issues of environmental quality and resource utilisation. For example, see Calabresi and Melamed and Bromley.
TL;DR: The second part of a long investigation under the title of, Principia Oeconomica, appeared in this paper, with the substance of the argument in this contribution being in the form of a dialogue with Henri Guitton, member of l'Institut de France and author of a book in French, De l'Imperfection en Economie (1979).
Abstract: This is the second part of a long investigation under the title of, Principia Oeconomica; the first having appeared in this journal in 1986. The substance of the argument in this contribution is in the form of a dialogue with Henri Guitton, member of l'Institut de France and author of a book in French, De l'Imperfection en Economie (1979). Guitton is leading a new French Economic School critical of a modern economy characterised by ‘Econosm” or “Economy of Counter‐sense”. Economism refers to the practice of conceiving problems of a modern society in strictly economic‐accounting terms and neglecting a host of social and human aspects. The second term means that the sole attention given to growth in production did not increase the happiness of man but on the contrary it created for him new problems (pollution, noise, atomic radiation and other hazards). To cope with these problems, the French school recommends wise policies which Guitton called “creative imperfection”. Guitton's presentation is followed step by step, with an interpretation in terms of stable equilibrium. The recommendation stresses structural reforms to solve the same problems but following a road of “creative perfection” leading to the same goal sought by Guitton: a better world of tomorrow.
TL;DR: Gorbachev's "restructuring" of the Soviet economy has, in his words, created "turmoil" and led to protests on moral grounds as discussed by the authors. But though the reforms involve ideas championed by supporters of liberal economies in which choices are made through the ordinary workings of the marketplace, the moral complaints are not primarily the commonest Marxist ones about capitalism.
Abstract: Mikhail Gorbachev's “restructuring” of the Soviet economy has, in his words, created “turmoil”. It has also led to protests on moral grounds. This restructuring attempts to decentralise decision making, introduce effective cost accounting, expand consumer choice, and relate production to anticipated demand. Fundamentally, it is aimed at involving more people in the choices which the economy demands and attempting to increase efficiency. But though the reforms involve ideas championed by supporters of liberal economies in which choices are made through the ordinary workings of the marketplace, the moral complaints are not primarily the commonest Marxist ones about capitalism — that the system creates large concentrations of corporate power which inhibit or distort individual decision making and action, or the conversion of the individual into a debased kind of property through the sale of his labour. And, though Gorbachev clearly plans to increase production of consumer goods, the contemporary objection that capitalism tends to press all available resources into service in an uncontrolled way, destroys the present environment and puts in question the human future, does not seem to be the centre of the debate.
Abstract: “Environmental Policy in a Market Economy” was the theme of a congress recently organised in Wageningen, the Netherlands. At this meeting a number of participants elaborated on various fundamental aspects of the problem. The papers given have been brought together in this volume under the title “Principles of Environmental Policy”. In the field of environmental policy there are many pitfalls, some of which are found in the way the subject is approached. An illustration of the basic complexity of this can be seen in the following contradiction in the explanation of the phenomenon of social economic development.
TL;DR: The subtitle to the English translation of this work (not employed in the Spanish original) bills it as "a theological critique of capitalism" and proves a veritable tour de force for students of the history and philosophy of economics as mentioned in this paper.
Abstract: The subtitle to the English translation of this work (not employed in the Spanish original) bills it as “a theological critique of capitalism”. At the same time, it proves a veritable tour de force for students of the history and philosophy of economics (erstwhile political economy) as well. And, this is especially true for those who, like the present reviewer, begin that history with the beginning. The author, who served on the faculty of the Catholic University of Chile from 1963 to 1973, holds a doctorate in economics from the Free University of Berlin, and is currently director of the postgraduate programme in economics at the Independent National University of Honduras. Further according to the “bio” provided on the back cover of the Spanish edition, his “is a name familiar to the social scientists of Latin America”. Thus, from these evidences we have a professionally trained economist/social scientist doing — or, at least, purporting to do — theology.
TL;DR: The Rehabilitation of Karl Marx as a theoretical economist 100 years after his death, Robert Paul Wolff, on the way to writing Understanding Marx, noted that Marx had written, at a conservative estimate, five thousand pages of theoretical material as mentioned in this paper.
Abstract: Reflecting on “The Rehabilitation of Karl Marx” as a theoretical economist 100 years after his death, Robert Paul Wolff, on the way to writing Understanding Marx, noted that Marx had written, “at a conservative estimate, five thousand pages of theoretical material”. Therefore, in order to understand Marx's theoretical achievement, which Wolff compares with Darwin, Freud and Einstein (p. 714), “The simplest sort of common sense demands that we estimate Marx's place in the intellectual history of our civilization on the basis of this mass of economic theory” (p. 713). In addition to the three volumes of Capital, the three volumes of the Theories of Surplus Value, the Grundrisse, and the Contribution to the Critique of Political Economy, however, “Marx also wrote, as a young man, a handful of exuberant, obscure, derivative, romantic reflections on the human condition…The same sort of common sense dictates that we not construe these youthful speculations as the final utterances of the true Marx” (p. 713). With these assertions, Wolff is reviving an old issue, for the benefit of a “modern mathematical reinterpretation of Marx” (pp. 715–16), that some had thought was laid to rest by the widespread availability of the Grundrisse.